Government to secure up to EUR 35 million from EIB for lending to small and medium businesses through two state banks: Denys Shmyhal

The Government has adopted several key decisions to improve access to business lending. This was announced by Prime Minister Denys Shmyhal during a Cabinet meeting on 13 May.

“Access to affordable loans for small and medium-sized businesses is another critical element of state support,” he emphasised.

According to Denys Shmyhal, the first decision involves securing up to EUR 20 million from the European Investment Bank to support medium- and long-term loans through the state-owned PrivatBank.

The second decision, as noted by the Prime Minister, entails attracting up to EUR 15 million through the European Investment Bank for lending to small and medium businesses via the state-owned Ukreximbank.

“In this way, we provide our entrepreneurs with resources for development, investment, and growth,” the Head of Government stressed.

According to him, state grants remain a vital component of entrepreneurship development. In particular, under the eRobota programme, over 25,000 microgrants have been issued to support business development, which will contribute to creating more than 46,000 jobs for the economy. Additionally, around 1,600 grants will be provided to veterans and their families.